I agree with Julia about the (un)catastrophic nature of the impending “information bomb” that Paul Virilio mentions in his articles. Of course the whole of human knowledge is expanding exponentially- we have digitized our data and have the capacity to store as much as we can create. But I don’t forsee this leading to a mind-blowing “Infocalypse” because it is not going to be experienced by everyone at the same time. The data is stored, spread around, and accessed when it is required.
Just because information exists does not mean it wants to be everywhere at once. We will have a lot of data stored (a lot) but a large number does not mean catastrophe- it is expected.
I can see a risk in the preservation methods- a large amount of data could stand to be lost in the destruction of a relatively tiny chip, but by and large I assume that all the important stuff has been backed up.
However, if there is going to be an information explosion, I’d say (according to this very scientific graphical representation of the development of humans) we’re in the thick of it and heading for the worst.(graph is from here)